BGFI Bank, the Gabon-based financial services conglomerate, has chosen Wolters Kluwer’s OneSumX to provide its regulatory reporting software for its French and European Banking Authority reporting obligations.
OneSumX provides an ecosystem of complementary and comprehensive solutions and services to manage the intersection of governance, finance, risk and compliance (GFRC), increasing organizational profitability, efficiency and growth. OneSumX is used by banks to manage a broad array of regulatory reporting, finance and risk obligations globally.
The bank has specifically signed up to use Wolters Kluwer’s OneSumX Regulatory Reporting, including the firm’s Regulatory Update Service. This unique service is maintained by Wolters Kluwer experts who actively monitor regulation in approximately 50 countries, helping to ensure the solution is current at all times. OneSumX Regulatory Reporting, uses a single source of data to ensure consistency, reconciliation and accuracy.
“BGFI is committed to ensuring regulatory obligations are taken seriously and so it’s clear that we must use a trusted and market leading technology provider to aid us in our efforts,” says Frank Boucton, Chief Financial Officer at BGFI. “By opting for content-led technology experts in Wolters Kluwer we will be kept up to date with regulations as they change.”
“Globally financial institutions are required to submit an ever increasing range of information to regulators,” notes Kris Van Bavel, managing director, EMEA, Finance, Risk and Reporting, for Wolters Kluwer. “Our content rich offering allows our growing clientbase to manage their regulatory obligations with precision. We look forward to continuing to work with BGFI.”
Other banks that have recently signed up to use OneSumX include Banco Santander, Taiwan Business Bank, Bank BGÅ» BNP Paribas and Sberbank.
Wolters Kluwer Governance, Risk & Compliance (GRC) is a division of Wolters Kluwer which provides legal, finance, risk and compliance professionals and small business owners with a broad spectrum of solutions, services and expertise needed to help manage myriad governance, risk and compliance needs in dynamic markets and regulatory environments. The division’s prominent brands include: AuthenticWeb™, Bankers Systems®, BizFilings®, Capital Changes, CASH Suite™, CT Corporation, CT Lien Solutions, ComplianceOne®, Corsearch, Expere®, GainsKeeper®, LegalVIEW®, OneSumX®, Passport®, TyMetrix® 360, Uniform Forms™, VMP® Mortgage Solutions and Wiz®.
Wolters Kluwer N.V. (AEX: WKL) is a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. Wolters Kluwer reported 2015 annual revenues of €4.2 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide.